Category: balance sheets

29 Dec

Understanding the common 8 modules of enterprise resource planning

For the enterprise resource planning to be termed as a complete system, it needs to have appropriate modules. The truth is; the ERP does not work as a single entity, but as a system, which operates on modules, so as to efficiently execute its purpose of controlling the entire resources of an enterprise. If you want to invest into enterprise resource planning properly, you need to understand this aspect. The post will, therefore, uncover some common ERP modules, which you should consider before adopting the system.

The human resource module

It is very much important, as it helps HR team, to perfectly manage the entire human resource platform in an enterprise. It manages things such as the information of the employees, tracks any needed employee records such as designations, reviews, skill matrix, job description and much more. It’s very useful in enlightening the entire enterprise about the capability of an employee.

The inventory enterprise resource planning

This enables finished goods to be moved, to ensure proper production line. In most cases, this module is tied to other needed functions such as orders, billings, shipping, and logistics. Through this, any item in the organization can be tracked, and even its location be determined.

The sales module

When the term sales is mentioned, things such as inquiry and handling analysis, sales queries, proper taxation of sales drafting, sales orders acceptance and shipment or dispatch should first come into our head. Yes, these are most important aspects, which constitute sales transaction. The sales module of the ERP system is the only system that is able to manage all the above operations, for the benefit of the organization.

Accounting module

The finance department of any organization manages the out and inflow of money. Through the help of the finance module, the managers can easily keep track of all accounting-related duties, such as balance sheets, expenditures, budgeting and account ledgers plus much more.

Purchase module

This module usually takes care of all the procurement processes of raw materials or items that are very much needed in an organization. This module usually consists of functionalities such as supplier and also items linking, vendor listing, sending vendors the quotation requests and much more.

Production module

This module greatly helps the organization, specifically the manufacturing industry to easily track the deliverance of a production. It consists of functionalities such as machine scheduling, production planning and the usage of raw materials.

The customer relationship management

This department helps in boosting the sales performance by utilizing customer relationship service. This being the case, the module tracks the information of customers. To do this effectively, a system has to be used. This is where the CRM module came in.

The supply management module

This module equips itself in managing the flow of products, all the way from the manufacturers to the consumers and also vice versa. The role involved here is a shifting that follows; manufacturer, then the super stockiest, which then goes to stockiest, the distributors and lastly the retailers.

29 Dec

Understanding the common 8 modules of enterprise resource planning

For the enterprise resource planning to be termed as a complete system, it needs to have appropriate modules. The truth is; the ERP does not work as a single entity, but as a system, which operates on modules, so as to efficiently execute its purpose of controlling the entire resources of an enterprise. If you want to invest into enterprise resource planning properly, you need to understand this aspect. The post will, therefore, uncover some common ERP modules, which you should consider before adopting the system.

The human resource module

It is very much important, as it helps HR team, to perfectly manage the entire human resource platform in an enterprise. It manages things such as the information of the employees, tracks any needed employee records such as designations, reviews, skill matrix, job description and much more. It’s very useful in enlightening the entire enterprise about the capability of an employee.

The inventory enterprise resource planning

This enables finished goods to be moved, to ensure proper production line. In most cases, this module is tied to other needed functions such as orders, billings, shipping, and logistics. Through this, any item in the organization can be tracked, and even its location be determined.

The sales module

When the term sales is mentioned, things such as inquiry and handling analysis, sales queries, proper taxation of sales drafting, sales orders acceptance and shipment or dispatch should first come into our head. Yes, these are most important aspects, which constitute sales transaction. The sales module of the ERP system is the only system that is able to manage all the above operations, for the benefit of the organization.

Accounting module

The finance department of any organization manages the out and inflow of money. Through the help of the finance module, the managers can easily keep track of all accounting-related duties, such as balance sheets, expenditures, budgeting and account ledgers plus much more.

Purchase module

This module usually takes care of all the procurement processes of raw materials or items that are very much needed in an organization. This module usually consists of functionalities such as supplier and also items linking, vendor listing, sending vendors the quotation requests and much more.

Production module

This module greatly helps the organization, specifically the manufacturing industry to easily track the deliverance of a production. It consists of functionalities such as machine scheduling, production planning and the usage of raw materials.

The customer relationship management

This department helps in boosting the sales performance by utilizing customer relationship service. This being the case, the module tracks the information of customers. To do this effectively, a system has to be used. This is where the CRM module came in.

The supply management module

This module equips itself in managing the flow of products, all the way from the manufacturers to the consumers and also vice versa. The role involved here is a shifting that follows; manufacturer, then the super stockiest, which then goes to stockiest, the distributors and lastly the retailers.